Housing in Albuquerque
Detailed housing data — sourced from authoritative datasets and normalized for direct comparison.
Housing in Albuquerque, New Mexico
The housing market in Albuquerque is considered somewhat competitive, with the median sale price of a home at $355,000 over the last three months ending May 2026, representing a 2.8% increase year-over-year. The median sale price per square foot was $212, up 0.5% from the previous year. For renters, the average rent in Albuquerque is $1,178 per month, which is 29% lower than the national average. One-bedroom apartments average $1,178 per month, while two-bedroom apartments average $1,438 per month. The market has seen a slight decrease in average rent over the last year by 0.1%.
Housing
About Albuquerque, New Mexico
Albuquerque, New Mexico, often called the 'Duke City,' is a vibrant urban center nestled in the high desert at the foot of the Sandia Mountains. Founded in 1706 as a Spanish colonial outpost, the city boasts a rich blend of Native American, Hispanic, and Anglo cultures, evident in its architecture, cuisine, and arts scene. Its unique geographical setting, with the Rio Grande flowing through its heart and the dramatic Sandia Mountains to the east, offers residents stunning natural beauty and abundant outdoor recreational opportunities. People are drawn to Albuquerque for its relatively affordable cost of living compared to other major U.S. cities, a relaxed pace of life, and a strong sense of community. The city serves as a hub for technology, healthcare, and education in the Southwest, attracting a diverse population seeking a balance between urban amenities and access to nature.
About New Mexico
New Mexico, known as "the Land of Enchantment," offers a unique blend of Native American, Spanish, and Mexican cultures, reflected in its architecture, cuisine, and traditions. The state's economy is driven by diverse sectors including energy (oil, gas, and renewables), aerospace and defense, food processing, agriculture, and a significant tourism industry. Living in New Mexico generally offers a lower cost of living compared to the national average, with housing and utilities often more affordable. The climate is largely arid and sunny, with diverse landscapes ranging from deserts to alpine forests, providing for warm to hot summers and cold winters, and a relaxed, outdoor-oriented lifestyle.